Does Population Growth Affect Housing Bubbles?
... approval of this thesis - responsible for neither the theories and methods used, nor results and conclusions drawn in this work." ...
... approval of this thesis - responsible for neither the theories and methods used, nor results and conclusions drawn in this work." ...
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... and Robison). Assume that the decision maker is faced with two investment opportunities, F and G. Further, the probability density functions for these investments can be expressed as f(x) and g(x), respectively. Then F dominates G in the first degree if ...
... and Robison). Assume that the decision maker is faced with two investment opportunities, F and G. Further, the probability density functions for these investments can be expressed as f(x) and g(x), respectively. Then F dominates G in the first degree if ...
Making Sense of a Complex World: IAS 36 Impairment of
... US GAAP Standard FAS 157 Fair Value Measurements. In the future, this IASB standard will provide more guidance on measuring fair value. This paper does not address this in detail. ...
... US GAAP Standard FAS 157 Fair Value Measurements. In the future, this IASB standard will provide more guidance on measuring fair value. This paper does not address this in detail. ...
Protection against major catastrophes: an economic
... of macroeconomic indicators. Since both economic development and vulnerability towards large-scale threats are linked to geography3, heterogeneity between countries needs to be controlled for, commonly by means of a Panel Data model. In this vein, Burton et al. (1993) were the first to detect a mode ...
... of macroeconomic indicators. Since both economic development and vulnerability towards large-scale threats are linked to geography3, heterogeneity between countries needs to be controlled for, commonly by means of a Panel Data model. In this vein, Burton et al. (1993) were the first to detect a mode ...
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... with randomly fluctuating supply conditions, lead to price movements that are perceived to be more volatile for farm products than those commonly experienced in other sectors of the economy. Most farms are usually considered to be small business enterprises with small asset bases. This belief persis ...
... with randomly fluctuating supply conditions, lead to price movements that are perceived to be more volatile for farm products than those commonly experienced in other sectors of the economy. Most farms are usually considered to be small business enterprises with small asset bases. This belief persis ...
Real Estate Principles
... Landlords and tenants in space markets negotiate and determining rents, which produces cash flows that are of primary concern to participants in the real estate asset market. If the cash flows are attractive in the real estate asset market relative to other capital asset categories, the development ...
... Landlords and tenants in space markets negotiate and determining rents, which produces cash flows that are of primary concern to participants in the real estate asset market. If the cash flows are attractive in the real estate asset market relative to other capital asset categories, the development ...
determining the risk free rate for regulated companies
... hypothesis, i.e., the differential between the current one and two year spot rates reflects a prediction about the future one year spot rate (van Horne, 1984, Ch. 5). In this case, the use of the longer-term interest rates for price setting is still undesirable because it will overcompensate in some ...
... hypothesis, i.e., the differential between the current one and two year spot rates reflects a prediction about the future one year spot rate (van Horne, 1984, Ch. 5). In this case, the use of the longer-term interest rates for price setting is still undesirable because it will overcompensate in some ...
Q2 - Aristotle Funds
... The Aristotle/Saul Global Opportunities Fund returned 4.12% in the first half of 2014, with 28.7% of the portfolio invested in U.S. equities and 54.2% invested in non-U.S. equities, 11% in bonds and 2% in platinum on average, during the period. 1H2014 Leaders and Laggards ...
... The Aristotle/Saul Global Opportunities Fund returned 4.12% in the first half of 2014, with 28.7% of the portfolio invested in U.S. equities and 54.2% invested in non-U.S. equities, 11% in bonds and 2% in platinum on average, during the period. 1H2014 Leaders and Laggards ...
Long-term investment in Europe The origin of the
... Stiglitz, the first of a series of conferences was held in October 2010 entitled, Sovereign Wealth Funds and other Long-Term Investors: A New Form of Capitalism. On our part, we presented a paper entitled "Financing Long Term Investment after the Crisis: a View from Europe", which received unexpecte ...
... Stiglitz, the first of a series of conferences was held in October 2010 entitled, Sovereign Wealth Funds and other Long-Term Investors: A New Form of Capitalism. On our part, we presented a paper entitled "Financing Long Term Investment after the Crisis: a View from Europe", which received unexpecte ...
Marginal Bidding: An Application of the Equimarginal Principle to
... is the same across all areas of use—to the problem of expected bidding and propose a greedy solution which we call Marginal Bidding. We advocate for Marginal Bidding in this paper because it scales linearly with the number of days in the problem and hence can more easily solve an N -day extension of ...
... is the same across all areas of use—to the problem of expected bidding and propose a greedy solution which we call Marginal Bidding. We advocate for Marginal Bidding in this paper because it scales linearly with the number of days in the problem and hence can more easily solve an N -day extension of ...
Tender Document
... This study aims to test whether energy efficiency performance proxied by EPC ratings is capitalised into house prices. It further seeks to identify whether the level of running costs of a property (proxied by EPC rating and local authority Council Tax costs) affects the transaction price of a proper ...
... This study aims to test whether energy efficiency performance proxied by EPC ratings is capitalised into house prices. It further seeks to identify whether the level of running costs of a property (proxied by EPC rating and local authority Council Tax costs) affects the transaction price of a proper ...
the importance of local capital markets for financing development
... Thus, in many markets banks are the first corporates to issue bonds, and in some markets the types of funding extend to covered bonds or other securitization structures that are more closely linked to the banks’ underlying loan books. Eventually other sectors may follow as the investor base builds f ...
... Thus, in many markets banks are the first corporates to issue bonds, and in some markets the types of funding extend to covered bonds or other securitization structures that are more closely linked to the banks’ underlying loan books. Eventually other sectors may follow as the investor base builds f ...
Accelerating growth and creating value
... “seeks,” “estimates,” “will” or words of similar meaning. Such statements are based on our current expectations and certain assumptions, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect its operations, performance ...
... “seeks,” “estimates,” “will” or words of similar meaning. Such statements are based on our current expectations and certain assumptions, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect its operations, performance ...
Portfolio choice with jumps: A closed-form solution
... when jumps are included, the determination of an optimal portfolio has not been amenable to a closed-form solution, and this is a long-standing open problem in continuous-time finance. As a result, with n assets, one must solve numerically an n-dimensional nonlinear equation. This is difficult, if n ...
... when jumps are included, the determination of an optimal portfolio has not been amenable to a closed-form solution, and this is a long-standing open problem in continuous-time finance. As a result, with n assets, one must solve numerically an n-dimensional nonlinear equation. This is difficult, if n ...
slides
... • Proposed objective function for market designer – Lowest annual average retail price of electricity consistent with long-term financial viability of industry – In economist’s language--maximize consumer surplus subject to marginal firm in industry earning zero economic profit • Both vertically-int ...
... • Proposed objective function for market designer – Lowest annual average retail price of electricity consistent with long-term financial viability of industry – In economist’s language--maximize consumer surplus subject to marginal firm in industry earning zero economic profit • Both vertically-int ...
Higher Pensions and Less Risk: Innovation at Denmark`s ATP
... Box 2: Operational Guidelines for ATP’s Dynamic Rules 1. If the risk tolerance level becomes too high, the portion of risky assets in the risk portfolio is reduced by one percentage point every fifth weekday after the desired risk tolerance level has been exceeded. If risky assets comprise more than ...
... Box 2: Operational Guidelines for ATP’s Dynamic Rules 1. If the risk tolerance level becomes too high, the portion of risky assets in the risk portfolio is reduced by one percentage point every fifth weekday after the desired risk tolerance level has been exceeded. If risky assets comprise more than ...
The corporate finance implications of rapidly rising interest rates.
... valuation. Yield-oriented securities are likely to experience downward valuation pressure, potentially impacting certain industries with yield-oriented equity profiles (such as utilities), assets invested in fixed-income asset classes, and derivatives used for hedging. This pressure will be offset b ...
... valuation. Yield-oriented securities are likely to experience downward valuation pressure, potentially impacting certain industries with yield-oriented equity profiles (such as utilities), assets invested in fixed-income asset classes, and derivatives used for hedging. This pressure will be offset b ...
The Regulatory Responses to the Global Financial Crisis
... supervised financial institutions, well functioning financial markets, well diversified risks, and robust institutional infrastructures, systemic risks emerged, yet went undetected or not addressed for some time and then created great havoc. Here, despite some decent progress in a few areas, the sad ...
... supervised financial institutions, well functioning financial markets, well diversified risks, and robust institutional infrastructures, systemic risks emerged, yet went undetected or not addressed for some time and then created great havoc. Here, despite some decent progress in a few areas, the sad ...
Quantitative Easing - Cambridge Political Economy Society
... Fed can change the composition of its assets without altering the quantity of its liabilities. For example, it can substitute loans to financial institutions or privately issued securities for some of its holdings of government securities. Such changes would not affect the short-term nominal interes ...
... Fed can change the composition of its assets without altering the quantity of its liabilities. For example, it can substitute loans to financial institutions or privately issued securities for some of its holdings of government securities. Such changes would not affect the short-term nominal interes ...
News Release Nomura Asset Management Nomura`s NEXT FUNDS
... “Document Prior to Conclusion of Contract” under your own responsibilities and based on your own judgment. Nomura Asset Management Co., Ltd. does not directly handle order requests for the Fund from investors. To invest in the Fund, it is necessary to open an account with a nearby Type-1 financial i ...
... “Document Prior to Conclusion of Contract” under your own responsibilities and based on your own judgment. Nomura Asset Management Co., Ltd. does not directly handle order requests for the Fund from investors. To invest in the Fund, it is necessary to open an account with a nearby Type-1 financial i ...
“Idiosyncratic Risk, Systematic Risk, and Firm Welfare”
... case that each investor is indi¤erent between being able to trade in the …rm or not. Thus, in equilibrium the expected utility of an investor who can trade in the …rm’s shares must be equivalent to the expected utility of an investor who cannot. Merton (1987) suggests that it is generally naive to b ...
... case that each investor is indi¤erent between being able to trade in the …rm or not. Thus, in equilibrium the expected utility of an investor who can trade in the …rm’s shares must be equivalent to the expected utility of an investor who cannot. Merton (1987) suggests that it is generally naive to b ...